Accounting Policies of ACI Infocom Ltd. Company

Mar 31, 2015

1. Basis of preparation of financial statements

These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instruments which are measured at fair values. GAAP comprises mandatory
accounting standards as prescribed under Section 133 of the Companies
Act, 2013 ('the Act'), read with Rule 7 of the Companies (Accounts)
Rules, 2014 and guidelines issued by the Securities and Exchange Board
of India (SEBI).

2. Use of Estimates

The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosure relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Management
believes that the estimates used in the preparation of financial
statements are prudent and reasonable. Future results could differ from
these estimates.

3. Fixed Assets

Fixed Assets have been stated at cost of acquisition inclusive of
expenses directly attributable to the acquisition of such assets.

4. Depreciation and Amortization

Depreciation has been provided based on life assigned to each asset in
accordance with Schedule II of the Companies Act, 2013.

5. Inventories

Inventories are valued at cost or net realizable value whichever is
lower. Cost of property under construction held as inventory includes
cost of purchases, construction cost, and other cost incurred in
bringing the properties to their present location and condition.

6. Material events occurring after the Balance Sheet

Material events occurring after the Balance Sheet date have been taken
cognizance of liabilities which are material and whose future outcome
cannot be ascertained with reasonable certainty have been treated as
contingent liability and are disclosed by way of notes to accounts.

7. Prior Period Adjustment

Expenses and income pertaining to earlier / previous years are
accounted as Prior Period Items.

8. Investments

Long-term investments are valued at cost. Provision for diminution in
the value of investments if any is made, if such diminution is other
than of temporary nature.

9. Revenue Recognition

(a) Revenue from disposal of properties is recognized on legal
completion of the contract. Where properties are under development,
revenue is recognized when significant risk and rewards of ownership
and effective control of the real estate have been transferred to the
buyer. If the revenue recognition criteria have been met before
construction is complete then obligation is recognized for the cost to
complete the construction at the same time as the sale is recognized.

(b) Rent Income is recognized on the basis of term of agreements
entered with lessee.

(c) Interest Income is recognized on a time proportion basis by
reference to the principal outstanding and at the interest rate
applicable. Share of profit from partnership firm recognised on the
basis of confirmation from partnership firm.

10. Income Tax

Tax Expenses comprise Current and deferred tax. Current income tax is
measured at the amount expected to be paid to the tax authority in
accordance with the income tax Act,1961 enacted in India and tax laws
prevailing in the respective tax jurisdiction where company operate.

Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantially enacted as on the balance sheet date.
Deferred tax assets recognized only when there is a reasonable
certainty of their realization.

11. Impairment

The Company reviews the carrying value of tangible assets for any
possible impairment at each balance sheet date. An impairment loss is
recognized when the carrying amount of an asset exceeds its recoverable
amount. In assessing the recoverable amount, the estimated future cash
flows are discounted to their present value at appropriate discount
rates.

12. Contingent liabilities

Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence will be confirmed by
the occurrence or non -occurrence of one or more uncertain future
events not wholly within control of the Company. A provision is made
based on a reliable estimate when it is probable that an outflow of
resources embodying economic benefits will be required to settle an
obligation at the year end date. Contingent assets are not recognized
or disclosed in the financial statements.

13. Segment Reporting

The Company is engaged in real estate business being a single segment
hence disclosure as requirements of Accounting Standard AS-17 issued by
the Institute of Chartered Accountants of India is not applicable.

14. Lease

Operating Lease payment is recognized as an expense in the statement of
profit and loss as per terms of agreement.

Mar 31, 2014

1. Basis of preparation of financial statements

The financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles under the historical cost
convention on an accrual basis and are in conformity with mandatory
accounting standards, as prescribed by the Companies (Accounting
Standards) Rules, 2006, the provisions of the Companies Act, 1956.

2. Use of Estimates

The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosure relating to
contingent liabilities as at the date of the financial statements and
reported amounts qf income and expenses during the period. Management
believes that the estimates used in the''preparation of financial
statements are prudent and reasonable. Future results could differ from
these estimates.

3. Fixed Assets

Fixed Assets have been stated at cost of acquisition inclusive of
expenses directly attributable to the acquisition of such assets.

4. Depreciation and Amortization

Depreciation on fixed asset has been provided on the straight-tine
method as per the rates prescribed under schedule XIV of the Companies
Act, 1956. However assets costing less than Rs. 5,000 each are fully
depreciated n the year of purchase.

5. Inventories

Inventories are valued at cost or net realizable value whichever is
lower. Cost of property under construction held as inventory includes
cost of purchases, construction cost, and other cost incurred in
bringing the properties to their present location and condition.

6. Material events occurring after the Balance Sheet

Material events occurring after the Balance Sheet date have been taken
cognizance of liabilities '' which are material and whose future outcome
cannot be ascertained with reasonable certainty have been treated as
contingent liability and are disclosed by way of notes to accounts.

7. Prior Period Adjustment

Expenses and income pertaining to earfier / previous years are
accounted as Prior Period Items.

8. Investments

Long-term investments are valued at cost. Provision for diminution in
the value of investments if any is made, if such diminution is other
than of temporary nature.

9. Revenue Recognition

(a) Revenue from disposal of properties is recognized on legal
completion of the contract. Where properties are under development,
revenue is recognized when significant risk and rewards of ownership
and effective control of the real estate have been transferred to the
buyer. If the revenue recognition criteria have been met before
construction is complete then obligation is recognized for the cost to
complete the construction at the same time as the sale is recognized.

(b) Interest Income is recognized on a time proportion basis by
reference to the principal outstanding and at the interest rate
applicable. Share of profit from partnership firm recognised on the
basis of confirmation from partnership firm.

10. Income Tax

Tax Expenses comprise Current and deferred tax. Current income tax is
measured at the amount expected to be paid to the tax authority in
accordance with the income tax Act,1961 enacted in India and tax laws
prevailing in the respective tax jurisdiction where company operate.

Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantially enacted as on the balance sheet date.
Deferred tax assets recognized only when there is a reasonable
certainty of their realization.

11. Impairment

The Company reviews the carrying value of tangible assets for any
possible impairment at each balance sheet date. An impairment loss is
recognized when the carrying amount of an asset exceeds its recoverable
amount. In assessing the recoverable amount, the estimated future cash
flows are discounted to their present value at appropriate discount
rates.

12. Contingent liabilities

Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence will be confirmed by
the occurrence or non -occurrence of one or more uncertain future
events not wholly within control of the Company. A provision is made
based on a reliable estimate when it is probable that an outflow of
resources embodying economic benefits will be required to settle an
obligation at the year end date. Contingent assets are not recognized
or disclosed in the financial statements.

13. Segment Reporting

The Company is engaged in real estate business being a single segment
hence disclosure as requirements of Accounting Standard AS-17 issued by
the Institute of Chartered Accountants of India is not applicable

14. Lease

Operating Lease payment is recognized as an expense in the statement of
profit and loss as per terms of agreement.

(b) Terms & Right attached to equity shares

The company has only one class of equity shares having a par value of
Rs.1/- per share. Each Holder of equity share is entitled to one vote
per share. In the event of liquidation, shareholder will be entitled to
receive remaining assets of the company after distribution of all
preferential amount. The distribution will be in proportion to the
member of equity share held by the share holder.

Mar 31, 2012

1. Basis of preparation of financial statements

The financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles under the historical cost
convention on an accrual basis and are in conformity with mandatory
accounting standards, as prescribed by the Companies (Accounting
Standards) Rules, 2006, the provisions of the Companies Act, 1956.

2. Use of Estimates

The preparation of the financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosure relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Management
believes that the estimates used in the preparation of financial
statements are prudent and reasonable. Future results could differ from
these estimates.

3. Fixed Assets

Fixed Assets have been stated at cost of acquisition inclusive of
expenses directly attributable to the acquisition of such assets.

4. Depreciation and Amortization

Depreciation on fixed asset has been provided on the straight-line
method as per the rates prescribed under schedule XIV of the Companies
Act, 1956. However assets costing less than Rs. 5,000 each are fully
depreciated in the year of purchase.

5. Foreign exchange transactions

Transactions in foreign currencies are recorded at the prevailing
exchange rates on the transaction dates. Realized gains and losses on
settlement of foreign currency transactions are recognized in the
profit and loss account. Foreign currency monetary assets and
liabilities at the year end are translated at the year end exchange
rates and resultant exchange differences are recognized in the profit
and loss account.

6. Inventories

Inventories are valued at cost or net realizable value whichever is
lower. Cost of property under construction held as inventory includes
cost of purchases, construction cost, and other cost incurred in
bringing the properties to their present location and condition.

7. Material events occurring after the Balance Sheet

Material events occurring after the Balance Sheet date have been taken
cognizance of liabilities which are material and whose future outcome
cannot be ascertained with reasonable certainty have been treated as
contingent liability and are disclosed by way of notes to accounts.

8. Prior Period Adjustment

Expenses and income pertaining to earlier / previous years are
accounted as Prior Period Items.

9. Investments

Long-term investments are valued at cost. Provision for diminution in
the value of investments if any is made, if such diminution is other
than of temporary nature.

10. Revenue Recognition

(a) Revenue from the sale of goods is recognized upon passage of title
to the customer, which generally coincides with their delivery. Sales
are recorded net of trade discounts, rebates, and sales taxes.

(b) Revenue from disposal of properties is recognized on legal
completion of the contract. Where properties are under development,
revenue is recognized when significant risk and rewards of ownership
and effective control of the real estate have been transferred to the
buyer. If the revenue recognition criteria have been met before
construction is complete then obligation is recognized for the cost to
complete the construction at the same time as the sale is recognized.

(c) Interest Income is recognized on a time proportion basis by
reference to the principal outstanding and at the interest rate
applicable. Share of profit from partnership firm recognised on the
basis of confirmation from partnership firm.

11. Income Tax

Tax Expenses comprise Current and deferred tax. Current income tax is
measured at the amount expected to be paid to the tax authority in
accordance with the income tax Act, 1961 enacted in India and tax laws
prevailing in the respective tax jurisdiction where company operate.

Deferred tax on timing differences between taxable income and
accounting income is accounted for, using the tax rates and the tax
laws enacted or substantially enacted as on the balance sheet date.
Deferred tax assets recognized only when there is a reasonable
certainty of their realization. Unrecognized deferred tax assets on
previous year taxation losses have been added to opening reserves.

12. Impairment

The Company reviews the carrying value of tangible and intangible
assets for any possible impairment at each balance sheet date. An
impairment loss is recognized when the carrying amount of an asset
exceeds its recoverable amount. In assessing the recoverable amount,
the estimated future cash flows are discounted to their present value
at appropriate discount rates.

13. Contingent liabilities

Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence will be confirmed by
the occurrence or non -occurrence of one or more uncertain future
events not wholly within control of the Company. A provision is made
based on a reliable estimate when it is probable that an outflow of
resources embodying economic benefits will be required to settle an
obligation at the year end date. Contingent assets are not recognized
or disdosed in the financial statements.

14. Segment Reporting

The company's segment is identified as business segment based on
nature of products, risk, returns, internal organization and management
structure. Unallocated corporate revenue and expenses which relate to
the enterprise as a whole are not attributable to segments.

15. Lease

Operating Lease payment is recognized as an expense in the statement of
profit and loss on a straight-line basis over the lease term.

Mar 31, 2010

A) FIXED ASSETS

Fixed assets are stated at cost less accumulated depreciation. The cost
of an asset comprises its purchase price and any directly attribute
cost of bringing it into working condition for an intended use.
Expenditure for additional improvements is capitalized. When assets are
sold or discarded, their cost and accumulated depreciation are included
in the profit & loss account.

b) DEPRECIATION

Depreciation on fixed asset has been provided on the straight-line
method as per the rates prescribed under schedule XIV of the Companies
Act, 1956. For Assets acquired on 31.03.2010, Depreciation will be
provided from next financial year 2010-11.

c) FOREIGN CURRENCY TRANSACTIONS

Transactions arising in Foreign Currencies of import of material during
the year are converted at the rate prevailing on the date of
transactions. Liabilities payable in Foreign Currency are restated at
the year end exchange rate and differences arising from such
restatement are included in profit & loss account.

d) INVENTORIES

Inventories are valued at cost or net realizable value whichever is
lower.

e) GRATUITY

The liability for Gratuity has not been provided, since there were no
eligible employees for Gratuity as at the end of financial year.

f) LEAVE ENCASHMENT

Payment on account of leave encashment is not accruable at the end of
the financial year as leave get lapsed on the last day of the fiscal
year as per companys circular issued to its employees.

g) MISCELLANEOUS EXPENDITURE (TO THE EXTENT NOT W/OFF)

I) Goodwillonarisingonamalgamationbeingwrittenoffoveraperiddoftenyears.
ii) Preliminary expenses and capital issue expenses are being written
off over a period of five and ten years respectively.

h) INVESTMENTS

Investments are long term in nature and have been stated at cost.

i) REVENUE RECOGNITION

Revenue from the sale of goods is recognized upon passage of title to
the customer, which generally coincides with their delivery. Sales are
recorded net of trade discounts, rebates, and sales taxes but includes
excise duty, where applicable.

j) INCOME TAX

Deferred tax assets relating to unabsorbed carry forward losses and
depreciation are recognized only to the extent there is virtual
certainty that the same can be realized in future and in respect of
other items where there is reasonable certainty as to realization.